Rethinking Your Financial Benefits
COVID-19 has presented undue hardships for many of your employees, financially and otherwise. Given the shifts in your workforce and the economy, financially-focused benefits such as pension plans, other retirement options, and student loan debt relief need to be revisited. You'll need to think of things like an aging workforce, and stipulations of the CARES Act to adjust your strategy for the new working world. Fill out the form below for these insights and more in a 10-minute video segment.
For defined contribution plans, sponsors may wish to review their matching and non-elective contributions. When communicated correctly, this can be an effective way to manage benefit costs in a way that impacts all employees equally relative to their pay.